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IIA IIA-CIA-Part1 Practice Test - Questions Answers, Page 50

Question list

List of questions

Question 491

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Which of the following is an indicator that the organization s risk management process is effective?

Question 492

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Which of the following would best describe a control implemented to detect cash register disbursement fraud in a large retail store?

Question 493

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The internal audit activity was denied access to expenditure and budget reports because they were considered to be confidential. This situation would result in which of the following limitations of

Question 494

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Which of the following qualifies as an acceptable consulting service provided by the internal audit activity?

Question 495

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Which of the following skills is critical for assessing corporate social responsibility through a selfassessment?

Question 496

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The chief audit executive (CAE) decided to conduct a self-assessment with independent validation. Which of the following is the most likely reason the CAE selected this course of action?

Question 497

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Prior to commencing a financial compliance engagement, the engagement supervisor reads the business plan for the finance department and meets informally with the director to learn more about any key

Question 498

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An internal auditor notes that inventory counts are conducted on Mondays only and that all documentation is on paper as there are no computers in the underground warehouses. Also she notices that th

Question 499

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A new internal audit activity is considering the adoption of a risk and control framework. Which of the following is the most appropriate consideration during this process?

Question 500

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Which of the following is true regarding the stakeholder theory of corporate social responsibility?

Question 491

Which of the following is an indicator that the organization s risk management process is effective?

The organization s risk appetite mission, and objectives are dearly outlined.

The organization s risk management practices are assessed as mature.

The organization has adopted risk management frameworks and global models.

The organization s significant risks are identified and adequately assessed

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Question 492

Which of the following would best describe a control implemented to detect cash register disbursement fraud in a large retail store?

Separate the duties of processing and authorizing refunds on merchandise

Post signs in the register area prompting customers to ask for and examine their sales receipts

Periodically count the cash in the register and compare it to the expected amount

Use cash registers with internal tapes that are tamper proof and that require a manager to process voids or refunds

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The internal audit activity was denied access to expenditure and budget reports because they were considered to be confidential. This situation would result in which of the following limitations of the internal audit activity?

Independence

Integrity

objectivity

Authority

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Question 494

Which of the following qualifies as an acceptable consulting service provided by the internal audit activity?

Develop training and system rollout plans in response to the results of the change readiness assessment of a new sales distribution model

Lead a risk self assessment session for laboratory managers to help identify inherent risks and provide recommendations on how to evaluate the risks

Audit a third party cloud service provider to review the effectiveness of governance and management controls in providing secure services to its customers

Conduct a post-implementation assessment of the enterprise resource planning system to determine whether project objectives were met and to identify opportunities to maximize potential benefits

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Question 495

Which of the following skills is critical for assessing corporate social responsibility through a selfassessment?

Assessment skills

Assurance skills

Interviewing skills

Facilitation skills

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Question 496

The chief audit executive (CAE) decided to conduct a self-assessment with independent validation.

Which of the following is the most likely reason the CAE selected this course of action?

The audit committee requested the self assessment for quality assurance purposes

The staff auditors have the necessary knowledge and experience to conduct the review

The internal audit activity is relatively small in size and is due for an external assessment

The internal audit activity is due for a self-assessment which is specifically required at least once every five years

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Question 497

Prior to commencing a financial compliance engagement, the engagement supervisor reads the business plan for the finance department and meets informally with the director to learn more about any key issues. Which of the following competencies is the engagement supervisor demonstrating?

The ability to inspire trust

The ability to communicate effectively

The ability to display courage

The ability to understand the needs of stakeholders

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Question 498

An internal auditor notes that inventory counts are conducted on Mondays only and that all documentation is on paper as there are no computers in the underground warehouses. Also she notices that the person responsible for receiving the goods is the same one who distributes materials and spare parts Finally, she sees that spare parts are written off and taken by the heads of mining units to different underground locations to wait for their turn to be installed. Which of the described findings requires more consideration from a fraud risk perspective?

The job responsibilities of the warehouse employee compromise segregation of duties

Spare parts are written off before their actual usage and installation

Warehouse management is conducted on paper and requires further investigation

The inventory counts take place on specific days of the week for no apparent reason

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Question 499

A new internal audit activity is considering the adoption of a risk and control framework. Which of the following is the most appropriate consideration during this process?

The framework should not be developed by the internal audit activity

The framework should apply to individual projects rather than the organization as a whole

The framework should always be tailored to the organization

The framework should require fewer resources to implement

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